Can you believe we’re in Q3 already? Time flies when you’re disrupting industries, as the UK’s most innovative scale-ups know all too well…
We’re kicking off a brand new On The Rise series documenting significant fundraises in some of the country’s most exciting sectors. And we’re starting with HealthTech and Life Sciences. From implantable therapies and AI-driven protein treatments to customised cancer vaccines and high-tech wearables, these companies are transforming the way healthcare is delivered and experienced.
Join us as we get to know these high-growth startups and scale-ups, praise their recent funding successes, and explore the technology they’re bringing to the table.
Amber Therapeutics
Born out of the innovation hub that is Oxford University in 2021, Amber Therapeutics is on its way to becoming the first to offer a fully implantable therapy capable of tackling both stress and urge urinary incontinence. The company recently achieved a major milestone, closing a $100 million Series A funding round – one of the largest ever seen in Europe – led by F-Prime Capital, Lightstone Ventures, and Intuitive Ventures. This significant investment will fuel the advancement of its flagship product, Amber UI, enabling pilot pivotal studies towards regulatory approval in the US.
ExpressionEdits
Headquartered in the heart of Cambridge and led by CEO Kärt Tomberg, ExpressionEdits is leveraging cutting-edge AI and proprietary intron technology to advance the field of protein-based therapeutics. With a recent $13 million seed funding round co-led by Octopus Ventures and Swiss venture capital firm redalpine, ExpressionEdits is poised to accelerate its candidate selection process for preclinical studies and expand its pipeline of transformative therapeutics in the process. This funding perfectly positions it to deliver groundbreaking solutions for complex medical challenges.
Grey Wolf Therapeutics
A biotech at the forefront of clinical-stage drug discovery and development, Grey Wolf Therapeutics is using its antigen modulation platform to change the antigen repertoire in cancer. In January 2023, the company secured a notable $49 million investment co-led by Pfizer Ventures. It further accelerated its growth in May 2024 with a $50 million Series B financing expansion led by Intermediate Capital Group, culminating in a total of $99 million raised. This substantial funding will propel the company’s efforts to broaden the scope of its clinical trials across diverse tumour types and explore the potential of its novel mechanism in autoimmune diseases.
Infinitopes
The brilliant minds at Oxford University have done it once again, this time with Infinitopes – a dynamic spinout developing patient-tailored cancer vaccines. Specialising in Precision Immunomics, Infinitopes is revolutionising cancer treatment by developing bespoke vaccines that precisely target cancer-specific antigens. In a recent milestone, the company secured £12.8 million in funding, spearheaded by Octopus Ventures. It’ll be using this to expand its technologies and target five additional cancer types.
LabGenius
Founded in 2012, LabGenius is harnessing the power of machine learning to change our approach to therapeutic antibody discovery. Its leading-edge AI-powered platform accelerates the identification of novel, high-impact antibodies, pushing the boundaries of traditional drug development. In May 2024, LabGenius secured £35 million in Series B funding spearheaded by M Ventures, bringing its total funding to £58 million. This new capital has enabled the team to broaden the capabilities of their platform, developing a promising pipeline of multi-specific antibodies into clinical trials.
Pheon Therapeutics
Next up we have another spinout, this time from King’s College London. Pheon Therapeutics is tackling cancer with its trailblazing antibody-drug conjugates (ADCs). Drawing on world-class research, the BioTech is committed to delivering targeted therapies that change patient outcomes for the better. Building on the success of its $68 million Series A funding round, in May this year Pheon Therapeutics secured a staggering $120 million Series B investment from the likes of TCGX. The money is set to facilitate the advancement of three promising ADC candidates through to clinical proof of concept.
Phlo
Founded on a mission to change the way people access prescription medications, Glasgow-based Phlo is shaking up the digital pharmacy industry. Its platform streamlines the entire prescription process – from ordering and management to real-time delivery tracking. With its user-centric approach, Phlo makes sure that obtaining your medication is as seamless and efficient as possible. In April this year, Phlo raised £9 million in funding led by Par Equity to power the team’s ambitious growth plans. This milestone follows a £10 million Series A raise just 14 months earlier – along with the strategic acquisition of Truepill UK’s assets a year ago.
Psyomics
Hailing from the halls of The University of Cambridge, Psyomics is leading mental health innovation with its medical device, Censeo. Using sophisticated AI algorithms, Censeo delivers detailed, personalised medical analysis by building a comprehensive biopsychosocial profile of an individual's mental health needs. This fresh approach makes it possible to provide tailored care and interventions. In June this year, Dr Melinda Rees and team secured £4 million from leading backers including Parkwalk Advisors – underscoring confidence in their mission. This funding will drive the expansion of Censeo to address the mental health requirements of children and young people.
SAVA
SAVA is making personal healthcare that bit more personal with its unique multi-molecule biosensing wearable. Using microsensing technology, SAVA’s device detects biomarkers just beneath the skin’s surface to offer unparalleled insights into an individual’s health. Its debut microsensor, designed for glucose monitoring, marks a significant leap forward for people with diabetes, providing a more accurate, comfortable, and hassle-free solution. In June, SAVA secured $8 million in seed funding led by Balderton Capital and Exor Ventures. This investment pushes SAVA further toward its ambitious vision: preventative, personalised, and painless medical care.
Theolytics
Operating out of Oxford and spearheaded by co-founder and CEO Charlotte Casebourne Stock, Theolytics is improving cancer treatment with the help of advanced oncolytic viral therapies. By using the power of viruses to target and destroy cancer cells, Theolytics has been making waves in the BioTech space. In April, it secured an impressive £19 million in funding, propelling its lead oncolytic adenovirus into clinical trials for ovarian cancer. As Theolytics advances towards new frontiers in oncology, its solutions promise to reshape the future of cancer therapy and deliver new hope to patients worldwide.
Insurance tailored for trailblazers
It’s important that high growth scale-ups and innovators like these are underpinned by coprehensive insurance that matches their future ambitions for growth.
At Capsule, we understand that while groundbreaking ideas propel you forward, robust protection guarantees you stay safeguarded against unforeseen risks. Let’s chat about your brand’s future today.